Friday said the airline industry in India
has grown by 400% in a short span of
about six-and-a-half years. "Civil
aviation in India since 2004 and now
has grown by 400% in the span of about six-and-a-half years," he said
while presiding over a foundation stone laying ceremony for the Kannur
International Airport at Mattannur. He said in 10 years Indian market will
be the third largest aviation market
after the US and China. Earlier this week, world aviation
industry body International Air
Transport Association had said that
powered by emerging economies like
China and India, carriers in the Asia-
Pacific region will post highest profit ever of $7.7 billion in 2010,
overtaking airlines in North America
and Europe. The foundation stone for Kannur
International Airport was laid by
Kerala chief minister V S
Achuthanandan. Complimenting the people, who had
given up land for the project, he said
the rehabilitation package for the
people was one of the best and will be
a 'model' in the country. The 26% of equity will be with the
government, 23% with public sector
undertakings, two% with other
institutions promoted by the
Government and 49% with the private
individual and institutions, he said Kerala has another airport, the Cochin
International Airport Limited (CIAL),
under the public-private participation.
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